Carol Tully Popular Books

Carol Tully Biography & Facts

Shawn Tully is an American business journalist at Fortune magazine, Speaker, and the writer who coined the acronym "HENRYs" (High Earners Not Rich Yet), to characterize a demographic of Americans in lucrative professions who encounter difficulties accumulating substantial wealth. Tully is one of the two Fortune Senior Editors-at-Large, along with Geoffrey Colvin. Since Tully introduced the term in 2003, "The HENRYs" has gained widespread recognition in defining this affluent group. Widely adopted in the financial press and utilized by money managers both in the United States and internationally, the term has become a prominent label associated with the financial landscape. Early life and education Shawn Tully, born in Manhattan, New York City, relocated to Princeton, New Jersey, at the age of ten, where he spent his formative years. He completed his secondary education at The Hun School of Princeton, graduating with distinction in 1966. Subsequently, Tully pursued higher education at Princeton University, earning a Bachelor of Arts degree in English literature in 1970. Continuing his academic endeavors, he obtained a Master of Business Administration (MBA) from the University of Chicago Graduate School of Business (The Booth School of Business). In 1973, Tully furthered his studies by attaining a Masters of Applied Economics from the Université Catholique de Louvain in Belgium. This educational background laid the foundation for his subsequent career in business journalism. Career Starting that year, Tully worked for First National City Bank (Citibank) in New York City, then for Garden State Land Co. In 1976, Tully shifted direction and became a freelance writer, contributing frequently to New Jersey Monthly. From 1979 to early 1983, Tully worked for Fortune in New York City, first as a reporter, then as Associate Editor. As an outside project, he co-authored the book Sports Illustrated Tennis with coach Doug McCurdy. While a reporter, Tully assisted two veteran Fortune writers, Carol J. Loomis on ITT chief Harold Geneen’s disastrous investment in a rayon mill in Quebec, and Roy Rowan on three pieces on brothers Bunker and Herbert Hunt following the collapse in silver prices. Among his early investigative pieces as author: accounts of the collapse of Canadian oil giant Dome Petroleum and the rise of Canadian property giant Olympia & York. In January 1983, Tully moved to France, as Paris Bureau Chief, for Fortune International. His CEO profiles while in Europe included pieces on construction titan Francis Bouygues and the prime figure in building L'Oreal, Francois Dalle. Following the indictment of commodities trader Marc Rich in the U.S.,Tully wrote three articles on Rich, while he was living and working in Switzerland as a fugitive, starting with the cover story “Secrets of Marc Rich” co-authored with Ford Worthy. In the late 1980s, when the Vatican was dealing with the Banco Ambrosiano scandal, Tully wrote the cover story "The Vatican's Finances." An examination of pay for European versus U.S. CEOs revealed that the chiefs of such companies as Peugeot (Stellantis) and Rhône-Poulenc (Hoechst AG) earned far less than their American counterparts. In 1989, Tully became European Editor. That year, he wrote “The Coming Boom in Europe,” predicting that new, free market reforms would lift the EU’s growth rate. His forecast proved incorrect, as the EU’s GDP declined in the early 1990s. Tully returned to New York City in 1991 and continued writing for Fortune, as Associate Editor. Pursuing his focus on c-suite profiles, he wrote “The Super CFOs” on Stephen Bollenbach of Disney, Dennis Dammerman of General Electric Co. (GE), and several other prominent CFOs, followed in 1993 by an examination of how CEOs including Roberto Goizueta of Coca-Cola had adopted Economic Value Added (EVA) as a key metric for measuring profitability. That year, Tully contributed an account of Donald Trump’s comeback from near bankruptcy several years earlier, the: disastrous partnership between Northwest Airlines and KLM of the Netherlands in “The Alliance from Hell”, and first of several articles examining America’s chronic shortage of doctors. A 1995 story predicted that Lehman Bros. would have difficulty surviving as an independent company. In September 1996, Tully left Fortune to work as an on-air reporter for CNBC, returning to Fortune in January 1998 as Associate Editor. He continued his concentration on investigative subjects by examining the deep problems at insurer Conseco caused by its failed merger with Green Tree Financial. An artilcle on index fund pioneer Dimensional Fund Advisors described how a number of Nobel Prize winners, inlcuding Merton Miller and Myron Scholes, as well as future laureate Eugene Fama worked with DFA to craft its investment approach. Two of Tully’s stories in early 2000 asserted that the NASDAQ index had risen to a bubble valuation, due largely to the excessive prices for "dot.com" stocks. From the spring 2001 to mid-2002, the NASDAQ fell over 80%. Columnist George Will cited Tully's skepticism about the stock market valuations in an article published in April of 2000. A look into the NYSE trading rules concluded that those rules significantly increased costs to customers. The following year, Tully asserted that Wall Street banks were failing to act in their customers' best interests, citing as a notable example the systematic underpricing of Initial Publlic Offerings. In that piece, veteran investment banker Felix Rohatyn criticized the banks for diverging from the former practice of putting their clients' interests first. Immediately following Jamie Dimon’s return to banking as CEO of Bank One, Tully wrote an article on Dimon, as well as a followup profile when he became CEO of JP Morgan Chase in 2006. In “Blood Feud” (2004) Tully examined the battle between Boston Scientic and Johnson & Johnson for the purchase of Guidant, and followed-up in 2006 with a piece asserting that the winner, Boston Scientific, had vastly overpaid for Guidant in “The (second) worst deal ever”. Between 2002 and 2007, Tully wrote three stories predicting that a bubble was building in the housing market that would eventually cause prices to drop sharply. He also took that position in a debate with Fortune writer Jon Birger. The cover of the September 2004 Fortune issue in which 'Is the Housing Boom Over?" appeared pictured a drawing of a house falling off a cliff. The articles attracted attention in the press, including coverage after housing values declined substantially in 2008 and 2009. In January 2010, Tully wrote a story questioning why President Barack Obama did not make a course adjustment similar to the one taken by French President Francois Mitterrand starting in 1983, after voters appeared to be rejecting Obama's economic agenda following the election of Republican Scott Brown to the Senate in Massachusetts. Tully was promoted to Senior Editor-at-Large in 201.... Discover the Carol Tully popular books. Find the top 100 most popular Carol Tully books.